Pledge made to deepen high-level financial sector opening
China's central bank and financial regulators vowed to deepen high-level opening of the financial sector through optimizing institutional arrangements and improving regulations, officials and experts said on Saturday.
China will launch the regulatory rules of exchange-traded "panda bond" - the yuan-denominated bond from foreign issuers, to encourage foreign institutions raising funds through such an instrument in China, Fang Xinghai, vice-chairman of China Securities Regulatory Commission, said on Saturday.
In addition, the first A-share derivatives product, a futures contract based on the MSCI China A 50 Connect Index, will be launched next month in Hong Kong Exchanges and Clearing Ltd, which will provide a risk management tool for foreign investment in A-share market, Fang said.
China will expand the Shanghai-London Stock Connect program, improve the domestic issuance and listing system of overseas entities, and improve the regulatory system for overseas listing of enterprises, said the CSRC vice-chairman.
"We support domestic and foreign enterprises to list in Hong Kong, and support the construction of Guangdong-Hong Kong-Macao Greater Bay Area," Fang said, adding to deepen cross-border regulatory cooperation, and create a predictable regulatory and institutional environment.
